Casey Energy purchases Marandola Fuel Service

December 11, 2020 By    

Casey Energy of Ridgefield, Connecticut, acquired the fuel business of Marandola Fuel Service of New Milford, Connecticut.

Founded in 1949 by William Casey, Casey Energy is a family-owned and -operated business for three generations. Serving Connecticut’s northern Fairfield and northern Westchester counties, Casey Energy is a full-service heating oil, propane and HVAC provider.

Established in 1995, Marandola Fuel Service sells and delivers heating oil to residential customers in and around Litchfield County, Connecticut. The company also performs maintenance and installation of oil-fueled heating equipment.

Casey Energy plans to expand its propane operations into Marandola’s territory, according to Shane Casey, president of Casey Energy.

“Bob Marandola built a successful business, and we could not be more pleased to have his company join with ours,” says Casey. “It’s a great propane market and we are looking forward to our expansion into Litchfield County.”

Post transaction, Marandola Fuel Service retains its name, office location and logo.

Cetane Associates served as the sole arranger and financial adviser to Marandola Fuel Service. Cetane advised on the sale, including an initial valuation opinion, marketing the business through a confidential process, assisting in negotiation of the final deal terms and coordinating the due-diligence process.

The transaction was managed by Cetane team members Steve Abbate and Jeff Brunner.

Featured image: designer491/iStock / Getty Images Plus/Getty Images

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